About Us
We Are National Development
National Development is a vertically integrated real estate investment, development, construction and management firm. We work closely with our partners and stakeholders to create vibrant and interesting places. Through over 300 projects and three decades of experience, we have become part of the communities in which we work. Our local knowledge and relationships combined with our understanding of the global capital markets result in exceptional projects and attractive investments.
Our Mission
We turn projects into communities. We work collaboratively as long-term partners, creating value for our investors and enhancing the neighborhoods in which we build.
Strength & Capability
Our greatest strength is our people; over 300 team members bring expertise in every aspect of the value creation process, across all property categories including office, research, industrial, retail, senior housing, multifamily and hotel.
The firm’s activities are primarily funded by our closed-end discretionary funds. We launched our first fund in 2006 and have subsequently raised over $1.1 billion via four fully-discretionary funds comprised primarily of endowments, foundations, institutions and family offices. We are currently investing our $400,000,000 Fund IV, which we expect will be deployed into $1.5 – 2 billion of new acquisitions and developments.
Experience
Over our firm’s nearly 40-year history in Boston, we have developed over 30 million SF in over 45 communities, investing over $6 billion. Our knowledge of the Greater Boston market and its many cities and towns is unparalleled. National Development is consistently ranked by the Boston Business Journal as one of the largest real estate development and investment firms in New England.
Innovation & Performance
National Development has distinguished itself as one of Boston’s most creative and innovative real estate firms, with a long track record of creating great places in which people want to work and live. Our vertically integrated structure, with the discretionary capital and in-house acquisition, development, construction and property management expertise, has earned our firm a reputation for reliably executing thoughtfully conceived projects on time and on budget.
Our Values
Collaboration
It’s true. We are better together. Through collaboration, we turn visions into realities and projects into communities. Through teamwork, trust and open communication, we inspire each other with a strong sense of purpose to create great places.
Community
We’re committed to working together with the cities and towns in which we work, creating environments that have a deep impact on people’s lives. We also believe in giving back. Every year, we support over 100 charitable and community organizations including United Way of Massachusetts Bay, Heading Home, Building Impact, Foundation for MetroWest, Habitat for Humanity and many others.
Creativity
From innovative deal structures to creative placemaking, we pride ourselves on our ability to think outside the box and maximize the potential of each project. We draw inspiration from history, sound planning and design principles, and community input to deliver projects that empower change, growth and transformation.
What We Do
As a vertically integrated company with in-house capital combined with acquisition, financing, permitting, development, construction and management expertise, we are able to bring a high level of speed, reliability and efficiency to the process of creating great places.
Investment
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Our firm’s activities are primarily funded by our discretionary, closed-end funds. We launched our first fund in 2006 and have subsequently raised over $1.1 billion via four fully-discretionary funds comprised primarily of endowments, foundations, institutions and family offices. We recently closed our $400,000,000 Fund IV. In addition to ground-up development, our firm is focused on acquiring properties where value can be added through re-leasing, re-positioning and/or redevelopment.
Development
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Our development team excels at taking a project from the initial acquisition through construction and stabilization. Our deep understanding of market forces, planning issues, the permitting process, design and financing are the key ingredients to our success. We are primarily focused on the development or redevelopment of mixed-use properties that combine several project types to create vibrant, attractive places.
Construction
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Cranshaw Construction is our construction manager/general contractor affiliate. The firm builds office, industrial, residential, life science, retail, hotel and other project types on behalf of both National Development and third party clients. Cranshaw’s capabilities include pre-construction services, site analysis, feasibility and conceptual estimating, plan review and value engineering. The firm is consistently ranked by the Boston Business Journal as one of the top ten largest construction management firms in Greater Boston.
Property Management
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Our property management group is one of the largest in the region and manages nearly 9 million SF of commercial, industrial and retail space, and 3,000 apartment units for both National Development and third party clients. We are committed to maximizing the value of each client’s asset through proactive marketing, tenant retention and community engagement programs, comprehensive maintenance, and detailed financial reporting. For more information about the residential communities we manage, visit www.ndcommunities.com.
Awards
2019
2018
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Commercial Brokers Association Boston, Creative Deal of the Year
Baldor Specialty Foods
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Building Impact Gold Impact Award
Unicorn Park
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Elite 1% ORA Power Ranking for online reputation nationwide
Seven Springs, Chroma
2017
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United Way Real Estate & Building Industry Leadership Award
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Golden Shoe Award for increasing walkability in the City of Boston
Underground at Ink Block
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Building Impact Gold Impact Award
2016
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Building Impact Gold Impact Award
2015
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Building Impact Gold Impact Award
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Rental Housing Association of Boston Community of Excellence Award
Ink Block
2014
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Building Impact Silver Impact Award
2013
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Commercial Broker’s Association, Landlord of the Year
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BBJ, Best Office
Fort Point Portfolio
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BBJ, Best Rehab/Renovation
200 Unicorn Park
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NAHB Best 50+ Senior Housing
Waterstone at Wellesley
2011
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NAIOP Distinguished Real Estate Award
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The American Consulting Engineers Council of Massachusetts, Excellence Award
Media
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Alexandria and National Development Joint Venture Buys Mount Auburn Club
July 7, 2020
The Crowley family, owners of the Mount Auburn Club for more than 46 years, announced that the Watertown club will remain closed and that it has been sold to a joint venture intending to develop the property for laboratory and office use. A statement released by the Mount Auburn Club...
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Oak Row Joins ND Communities Portfolio
April 13, 2020
On April 13th, National Development closed on its acquisition of Oak Row Apartments in West Roxbury. The National Apartment Association’s 2019 Community of the Year has 80 spacious apartments with condo-quality finishes, garage parking and an abundance of amenities. Inspired by the beautiful tree-line streets that surround it, the property...
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WBZ could get ‘forward-thinking’ new studio building in Allston, should construction ever resume
March 19, 2020
A Newton development company this week filed formal plans to replace WBZ-TV’s current Soldiers Field studios and offices with a new building right next door – which would leave open a large piece of land for possible future development. In a filing with the BPDA, National Development says the proposed...
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National Development plans housing at MidTown Hotel site
March 4, 2020
Newton-based National Development has closed on a long-term ground lease for the MidTown Hotel and One Cumberland St., two parcels located across from the Christian Science Plaza in Boston, and is in the early stages of planning a residential and retail property there. A 99-year ground lease closed Monday between...
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Jeff Lowenberg Joins National Development as Senior Vice President
February 27, 2020
Jeff Lowenberg has joined National Development as Senior Vice President, Development. Jeff brings over 20 years of real estate development experience on large-scale urban mixed-use projects. At National Development, Jeff will manage site selection, feasibility and pro forma analysis, design, permitting and construction for several major projects. Prior to joining...
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National Development named 2019 Best Place to Work by Boston Business Journal
February 26, 2020
National Development and its affiliates Charles River Realty Investors and Cranshaw Construction were named one of the 2019 Best Places to Work in Massachusetts in the Large Firm category by the Boston Business Journal. The distinction was earned by being one of the top-scoring companies in a third-party managed employee...
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